Mortgage borrowing rises in January as landlords race for stamp duty deadline March 17, 2016 Would-be landlords made a mad dash to secure mortgages in January as new rules on stamp duty for buy-to-let homes loomed, new figures show. Data from the Council of Mortgage Lenders (CML) shows landlords borrowed £3.7bn in January, up nine per cent from the month before – but a whopping 42 per cent year on year. New [...]
Scheme is full steam ahead: Battersea boss hits back at fears that investors are fleeing March 16, 2016 The developer behind the £8bn regeneration of Battersea Power Station has sought to quash fears of investors fleeing the site after warning signs that a glut in new build homes, tougher tax rules, and currency turmoil in foreign markets is weighing on London's prime property market. Speaking to City A.M. in Cannes, Rob Tincknell, chief executive [...]
Budget 2016: A tax on house purchase is a tax on house building too – which will not help the UK’s housing crisis March 16, 2016 A tax on house purchase is a tax on house building too and could perversely worsen the housing crisis in the long term. Raising taxes is a tried and tested way to discourage activity that the government thinks is bad for us and right now it seems the target is buy to let. Unfortunately the [...]
Budget 2016: Here are the reactions to Osborne’s announcements on sugar tax, corporation tax, Insurance Premium Tax, Isas, education and growth prospects March 16, 2016 George Osborne has just announced some Budget surprises – a sugar tax, longer school days – as well as an increase in sin taxes on tobacco, alterations to ISAs and savings, and corporation taxes. Here's what analysts are already saying about the chancellor's latest agenda on… Personal allowance David Kilshaw, private clients services partner, EY [...]
Buy to let tax changes: Why a landlord exodus remains unlikely March 16, 2016 The growth of buy-to-let has been among the defining characteristics of the post-crisis mortgage market. Council of Mortgage Lenders figures released this month show that lending to landlords accounted for 17 per cent of all new loans in the third quarter of 2015. With rising property prices, meanwhile, property consultants Savills estimated last year that [...]
From the Personal Savings Allowance and Dividend Allowance to the Help to Buy Isa, how can savers make the most of their Isa this tax year? March 15, 2016 The world of Isas was once a sleepy one. At every Budget, the chancellor would typically increase the amount you could contribute each tax year by some measure of inflation. You had a simple choice between putting that money into a cash or a stocks and shares Isa (or a slightly restrictive combination of the [...]
Budget 2016: Chancellor George Osborne throws weight behind Crossrail 2 and HS3 with more than £300m in transport spending March 15, 2016 Chancellor George Osborne will throw his weight behind Crossrail 2 and the HS3 rail project between Leeds and Manchester when he delivers the 2016 Budget tomorrow. Osborne will use the Budget to commit to more than £300m in new infrastructure spending, including £80m to fund the development of plans for Crossrail 2 and £60m to [...]
UK house prices: Stamp duty – unless we’re still at war with France, it should go March 14, 2016 Stamp duty was originally introduced as a temporary tax in 1694 by a weird coalition of Dutch and British Monarchs, to maintain the war against their French foes. The duty then lay in the background until 1997, when Gordon Brown‘s first act as chancellor was to resurrect it. Brown’s master plan was to impose a [...]
UK house prices: Northern cities are among the best places to invest in property March 11, 2016 Forget Brixton and Hackney – Northern cities are the hottest up-and-coming areas for UK property investors, according to data released today on affordable homes. The figures from consumer group Which? show the areas where property prices are surging that also have an average house price below £200,000. The top spot for affordable homes in the UK is [...]
Buy-to-let tax changes: A perfect storm for landlords and tenants March 11, 2016 Upcoming tax changes have ignited debate about the role private landlords should play in meeting the UK’s housing needs. Focus has fallen on buy-to-let but, as the Institute for Fiscal Studies, among others, has noted, landlords are taxed much less favourably than home owners. Following last year’s Autumn Statement, which outlined plans for an additional [...]